Here is the look of my hourly chart analytics of the U.S. Oil Fund (USO), which shows today's upside pivot reversal off of new reaction lows at 64.89 into the area of last week's key resistance plateau at 66.60/80, which if hurdled should trigger upside acceleration towards my next optimal target zone of 69-70.  Only a plunge that breaks today's low at 64.89 will compromise the developing constructive near-term pattern.

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.